<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2007-8064</journal-id>
<journal-title><![CDATA[Entreciencias: diálogos en la sociedad del conocimiento]]></journal-title>
<abbrev-journal-title><![CDATA[Entreciencias: diálogos soc. conoc.]]></abbrev-journal-title>
<issn>2007-8064</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Escuela Nacional de Estudios Superiores]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2007-80642025000100201</article-id>
<article-id pub-id-type="doi">10.22201/enesl.20078064e.2025.27.89936e25.89936</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Factores que afectan la sostenibilidad financiera de las Sociedades Financieras Populares de México]]></article-title>
<article-title xml:lang="en"><![CDATA[Factors Affecting the Financial Sustainability of Popular Financial Societies in Mexico]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Morales Castro]]></surname>
<given-names><![CDATA[José Antonio]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Espinosa Jiménez]]></surname>
<given-names><![CDATA[Patricia Margarita]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Instituto Politécnico Nacional  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Nacional Autónoma de México Facultad de Contaduría y Administración ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2025</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2025</year>
</pub-date>
<volume>13</volume>
<numero>27</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2007-80642025000100201&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2007-80642025000100201&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2007-80642025000100201&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen  Propósito: analizar la relación de los factores específicos y económicos que afectan la sostenibilidad financiera en el periodo previo a la crisis de la COVID-19 y durante el periodo de la pandemia, y cómo contribuye cada uno de ellos en la probabilidad de aumento de la rentabilidad del activo (retorno sobre activos o ROA, por sus siglas en inglés ) de las Sociedades Financieras Populares en México.  Diseño metodológico:  se conformó una base de datos de variables internas de las Sociedades Financieras Populares (Sofipos) de México y de cinco variables macroeconómicas de diversas fuentes durante el periodo de 2014-2022. Y mediante regresiones logit se analizó el impacto de cada una de estas variables en probabilidad de que las microfinancieras mantengan su sostenibilidad financiera, medido por el rendimiento sobre el activo.  Resultados:  en preCOVID-19 tres variables internas y cuatro macroeconómicas influyen en la probabilidad de sostenibilidad financiera y durante la COVID-19 cuatro variables internas y dos macroeconómicas.  Limitaciones de la investigación: alta heterogeneidad del ROA de las Sofipos, cinco tenían ROA negativo y las otras cinco positivo.  Hallazgos: a pesar de que el ROA es disímil entre las Sofipos, algunas tienen grandes pérdidas y otras altas ganancias y, aun así, siguen desarrollando sus actividades, mostrando resiliencia aún en crisis. Prevalecen en los dos periodos analizados las variables morosidad, índice de capitalización y las remesas con significación estadística para explicar la sostenibilidad financiera de las Sofipos.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract  Purpose: To analyze the relationship between specific and economic factors affecting financial sustainability in the period prior to the COVID-19 crisis and during the COVID-19 period and how each of them contributes to the probability of increasing the return on assets (ROA) of the Popular Financial Societies (Sofipos) in Mexico.  Methodological design: A database of internal variables of the Popular Financial Societies in Mexico and five macroeconomic variables from various sources during the period 2014-2022 was formed. And using logit regressions, the impact of each of these variables on the probability of microfinance institutions maintaining their financial sustainability, measured by return on assets, was analyzed.  Results: In pre-COVID-19 three internal and four macroeconomic variables influence the probability of financial sustainability and during COVID-19 four internal and two macroeconomic variables.  Research limitations: High heterogeneity of the ROA of the Sofipos, five had negative ROA and the other five positives.  Findings: Although ROA is dissimilar among Sofipos, some have large losses and others high profits, and even so, they continue to develop their activities, showing resilience even in crisis. In the two periods analyzed, the variables delinquency, capitalization index and remittances are statistically significant in explaining the financial sustainability of Sofipos.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[sostenibilidad operativa]]></kwd>
<kwd lng="es"><![CDATA[sociedades financieras populares]]></kwd>
<kwd lng="es"><![CDATA[rentabilidad]]></kwd>
<kwd lng="es"><![CDATA[variables fundamentales]]></kwd>
<kwd lng="es"><![CDATA[crisis coronavirus]]></kwd>
<kwd lng="en"><![CDATA[operational sustainability]]></kwd>
<kwd lng="en"><![CDATA[popular financial societies]]></kwd>
<kwd lng="en"><![CDATA[profitability]]></kwd>
<kwd lng="en"><![CDATA[key variables and]]></kwd>
<kwd lng="en"><![CDATA[coronavirus crisis]]></kwd>
</kwd-group>
</article-meta>
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